Dai-ichi invests in RenewBuy

Dai-Ichi Life Holdings is investing $40 million in RenewBuy, resulting in the Japanese insurer holding an 11% stake in the Indian company.

Founded in 2015, RenewBuy operates an insurance comparison site and it raised ~$120 million across equity and debt since inception.

The startup sells motor, health and life insurance, claiming to have served over 4 million customers through its 100k+ network of advisors.